GEO double bottom & ready to rise18 Jan 2019 21:05
I think GEO has a very strong chance of moving up from here and that is why I bought in. My reasons for this are as follows
1) There were only 'minor points' in relation to the exploration permit raised and they were satisfactorily addressed so as the board said it is now simply 'awaiting the final approval.'
2) There are a tiny amount of shares which means it will not take much to move GEO up fast.
3) Although I acknowledge the frustration of those already invested with the delays, these have helped to create an opportunity for new shareholders such as myself.
4) Chart looks like a double bottom, likely to turn around.
Now I acknowledge that nothing in life is certain and that there is a chance we will be waiting for a while for the approval but in my view it is about having a slight edge and i think the current situation provides that edge. I have not put the house on it, but a buy in at punt level seems reasonable to me.
Hopefully my buy pays off.